These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Metaco Commodities Limited is a private company limited by shares incorporated and domiciled in England and Wales. The registered office is Pool Chambers, 26 Dam Street, Lichfield WS13 6AA.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has net liabilities of true£2,027,206 (2024: £1,964,218) at 31 December 2025 which includes £174,053 (2024: £252,672) and £2,955,116 (2024: £2,835,669) due to the directors R Bradley and R Mansell respectively and £1,424,598 (2024: £1,409,598) due to Shenstone Properties Limited, a company of which R Mansell is a director and shareholder.

The company has received written assurances from R Bradley, R Mansell and Shenstone Properties Limited that they will continue to support the company in all its working capital requirements for at least twelve months from the date of signing of these accounts and will not demand repayment of their loan account balances until such time as the company's cashflow permits. On this basis, the Directors consider it appropriate to prepare the financial statements on a going concern basis.

Turnover represents rent receivable and amounts receivable on the sale of properties net of VAT.

Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. There is a policy of capitalising property costs greater than £500.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following estimates and judgements have had the most significant effect on amounts recognised in the financial statements.

The valuation of property held as stock requires management to estimate the expected recoverable value of the related assets. These estimates are based on anticipated sales values, market conditions and expected costs to complete and dispose of the properties. Changes in market conditions or development costs could impact the carrying value of inventories.

The average monthly number of persons (including directors) employed by the company during the year was 2 (2024 - 2). The directors received no remuneration from the company.

The bank loan represents the amount payable within one year of the Bounce Back Loan as detailed in note 8.

Included within other creditors are directors' loan account balances of £174,053 (2024: £252,672) and £2,955,116 (2024: £2,835,669) due to R Bradley and R Mansell respectively. The balances are interest free and repayable on demand.

In July 2017 the company drew down a bank loan of £807,216 which was repayable in one instalment in September 2027. The loan was secured on the properties included in stock and by personal guarantees, including guarantees from R Mansell and R Bradley. Interest was charged at a fixed rate of 4.57% for the first five years and then at a variable interest rate of LIBOR (minimum 0.75%) plus 3.70% for the final five years.

In March 2019 the company drew down a new bank loan of £1,225,125, on an additional five properties included in stock. Interest was charged at a fixed rate of 4.51% for the first five years and then at a variable interest rate of LIBOR (minimum 0.75%) plus 3.50% for the final five years. The loan was due for repayment in one instalment in March 2029 and was secured on properties included in stock.

In October 2020 the company drew down a new bank loan of £2,479,358, on an additional six properties included in stock. Interest was charged at a fixed rate of 4.74% for the first five years and then at a variable interest rate of LIBOR (minimum 0.75%) plus 3.89% for the final five years. The loan was due for repayment in one instalment in October 2030 and was secured on properties included in stock.

In January 2023 the company executed a loan refinancing which consolidated the three loans above to two loans. The first new loan of £2,072,813 was on one property included in stock. Interest is charged at a fixed rate of 4.20% for the first five years and then at a variable interest rate for the final five years. The loan is due for repayment in one instalment in January 2033.

The second new loan of £2,405,223 was on twenty-two properties included in stock. Interest is charged at a fixed rate of 4.20% for the first five years and then at a variable interest rate for the final five years. The loan is due for repayment in one instalment in January 2033. A part repayment of £38,449 of the loan was made on the sale of one of the properties included in stock.

Also included above is £12,477 (2024: £16,129), representing the long term element of a Bounce Back Loan totalling £16,129 (2024: £19,781). The loan is an unsecured debt. During the first 12 months, the UK Government paid the interest, at 2.50% per annum, due under this loan to the lender as a Business Interruption Payment. The loan is repayable in sixty monthly instalments.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

At the year end, directors' loan account balances of £174,053 (2024: £252,672) and £2,955,116 (2024: £2,835,669) were due to R Bradley and R Mansell respectively. The balances are interest free and repayable on demand. R Bradley and R Mansell have provided personal guarantees to secure the bank loan as detailed in notes 7 and 8.

At the year end the company owed Shenstone Properties Limited, a company of which R Mansell is a director and shareholder, £1,424,598 (2024: £1,409,598). The company charged Shenstone Properties Limited management fees of £nil (2024: £2,352) in the year. There was no balance outstanding at the year end.

At the year end the company was owed by Metaco Construction Limited £nil (2024: £13,823) in relation to expenses paid on behalf of the company. The balance was previously fully provided against at 31 December 2024 but was subsequently recovered in the year, hence the provision was reversed. The companies are under common control.

During the year a total of £28,000 (2024: £10,677) was received in relation to rental income from Hadrian Property Management Limited, a company of which R Mansell is a director.

During the year a total of £38,400 (2024: £38,400) was received in relation to rental income from a director.

R Mansell and R Bradley are considered to be the ultimate controlling parties by virtue of their 25% shareholdings and their management of the company's day to day operations.